Australian shopping center portfolio operator Westfield Group is looking to sell its 75 percent stake in Broadmarsh Shopping Centre, The Wall Street Journal reports. As per a conditional agreement, the Capital Shopping Centres Group (CSC) will be paying £55 million in cash for acquisition of the asset, located in Nottingham, England.
Westfield and CSC are in talks with Westfield’s partner Possfund Custodian Trustee for the proposed acquisition and regarding its 25 percent stake in Broadmarsh. CSC has a portfolio of 14 properties in the U.K.
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Possfund Custodian Trustee Australian Westfield Group Broadmarsh Shopping Centre Westfield